ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Telos Capital Management Inc.

Telos Capital Management Inc. boosted its holdings in ServiceNow, Inc. (NYSE:NOW) by 6.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,860 shares of the information technology services provider’s stock after buying an additional 275 shares during the quarter. Telos Capital Management Inc.’s holdings in ServiceNow were worth $3,434,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sandbox Financial Partners LLC boosted its holdings in shares of ServiceNow by 8.6% in the fourth quarter. Sandbox Financial Partners LLC now owns 835 shares of the information technology services provider’s stock valued at $590,000 after acquiring an additional 66 shares during the period. Raymond James & Associates boosted its holdings in shares of ServiceNow by 5.9% in the fourth quarter. Raymond James & Associates now owns 331,406 shares of the information technology services provider’s stock valued at $234,135,000 after acquiring an additional 18,442 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of ServiceNow by 15.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 25,726 shares of the information technology services provider’s stock valued at $18,175,000 after acquiring an additional 3,438 shares during the period. Fifth Third Bancorp boosted its holdings in shares of ServiceNow by 4.7% in the fourth quarter. Fifth Third Bancorp now owns 70,150 shares of the information technology services provider’s stock valued at $49,560,000 after acquiring an additional 3,154 shares during the period. Finally, F M Investments LLC acquired a new stake in shares of ServiceNow in the third quarter valued at approximately $1,624,000. 87.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the transaction, the insider now directly owns 5,453 shares in the company, valued at approximately $4,064,229.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other ServiceNow news, insider Paul John Smith sold 5,159 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total transaction of $3,845,105.88. Following the completion of the sale, the insider now directly owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William R. Mcdermott sold 5,030 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the sale, the chief executive officer now owns 17,177 shares of the company’s stock, valued at $12,935,655.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,164 shares of company stock worth $9,940,303. 0.25% of the stock is owned by corporate insiders.

ServiceNow Price Performance

Shares of NOW stock traded down $5.93 during mid-day trading on Wednesday, reaching $738.85. The stock had a trading volume of 400,204 shares, compared to its average volume of 1,171,926. ServiceNow, Inc. has a 12-month low of $427.68 and a 12-month high of $815.32. The company has a market cap of $151.75 billion, a P/E ratio of 88.56, a price-to-earnings-growth ratio of 4.65 and a beta of 0.97. The business has a 50-day simple moving average of $768.63 and a 200 day simple moving average of $700.17. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a return on equity of 11.85% and a net margin of 19.30%. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter last year, the business posted $0.88 earnings per share. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. On average, sell-side analysts anticipate that ServiceNow, Inc. will post 6.16 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Guggenheim reissued a “neutral” rating on shares of ServiceNow in a report on Monday. Barclays increased their price objective on ServiceNow from $765.00 to $870.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $820.00 price target on shares of ServiceNow in a report on Wednesday, March 20th. Oppenheimer increased their price target on ServiceNow from $750.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Finally, Wells Fargo & Company increased their price target on ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, ServiceNow presently has an average rating of “Moderate Buy” and a consensus price target of $780.00.

ServiceNow Company Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.